- Silver Bullet Data Services Group
- 24 June 2025 14:00:21
Source: Sharecast
The AIM-traded digital transformation firm, which trades as Silverbullet, also announced a restructuring of its existing convertible loan notes and the appointment of Oberon Capital as joint broker.
It said the fundraise included £1.95m in new convertible loan notes, a £0.75m loan note, and a £0.44m equity subscription via the issue of 1.47 million new shares at 30p each.
A WRAP Retail Offer was meanwhile being opened to enable retail and eligible shareholders in the UK to participate on the same terms as the institutional subscription.
Proceeds would be partly used to repay a previous convertible loan note issued in May 2022, with the remainder allocated to general working capital.
The company said it had also restructured its outstanding convertible loan notes, which would convert into the new three-year term notes as part of the fundraising package.
Silverbulelt’s fundraise came alongside a trading update showing revenue growth of 13% to £4.03m for the five months ended 31 May.
Services revenue rose 10% year-on-year, supported by new business in Mexico, while revenue from the company’s 4D platform grew by 18%, aided by momentum from its integration with the Trade Desk.
“We are delighted to restructure our existing loan notes and raise additional capital to position the business on a firm financial footing as the company continues its growth trajectory,” said Ian James, CEO of Silverbullet.
“Participation in the financing will also shortly be made available to retail shareholders at the Issue Price by way of the Winterflood Retail Access Platform.”
James added that the board would provide further detail on progress in its financial results due by the end of the month.
Admission of the new shares was expected to occur on or around 26 June, after which the company’s total issued share capital would stand at 18,942,617 ordinary shares, all with voting rights.
At 1112 BST, shares in Silver Bullet Data Services Group were up 2.63% at 29.25p.
Reporting by Josh White for Sharecast.com.